Market Feasibility Study: The First Step Toward a Successful PACE program
The market feasibility study provides an understanding of the market conditions for PACE and includes an independent assessment of the critical components that lead to the success of a new PACE program.
This crucial first step is completed before the letter of intent and subsequent applications are submitted to the state and federal agencies to start a PACE program, and before a real estate representative is identified and a site search for a PACE center commences.
Our work draws upon our 50+ years of experience as a mission-driven organization serving seniors and, since the 1980s, opening seven PACE programs, pioneering the replication of PACE across the nation, and offering guidance to prospective or established PACE organizations.
Your market feasibility study can focus on ZIP codes encompassing one county or be as broad as a multi-county area with more than 40 ZIP codes. It will provide you with the in-depth data and rigorous analysis needed to inform your decision to proceed with the PACE application, including, but not limited to:
State environment for PACE
The analysis of the data and how it aligns with the competition of existing PACE organizations, if any, or from county programs and current managed Medicaid program, brings insights that can assist the decision to move forward with the PACE application process.
Once you decide to proceed, the information in your market feasibility study is utilized in the state application to make the business case in areas that include, but are not limited to, community need, potential partnerships and resources within the market area, and challenges to be addressed on the path to success.